PREPARING YOUR PITCH. Arnold Chen, Managing Director Burton D. Morgan Center for Entrepreneurship

Transcription

1 PREPARING YOUR PITCH Arnold Chen, Managing Director Burton D. Morgan Center for Entrepreneurship

2 OUTLINE Before your pitch The Pitch After your pitch Fun real examples

3 WHAT IS YOUR GOAL? WHY ARE YOU MEETING? To get the next meeting!!!

4 KNOW YOUR AUDIENCE Ask them what they want to hear! Know your time limit Plan your pitch accordingly Who will be attending? What are each of their roles? Who are decision makers? Understand their background/experience Good for anticipating questions Great for small talk. Makes you memorable

5 PREPARATION Practice your pitch! Watch your time Get to the Q&A. That s where the important part of the meeting happens Proofread your pitch Nothing worsse than having a typo or font issues Distracting Shows you are not detail oriented Be early

6 DURING THE PITCH Don t get flustered by interruptions and questions Effective communication Listen to questions carefully! Answer succinctly Assign a team member to take notes/action items

7 1. OPENING SLIDE Company Name Contact info Catch Phrase We are the 10 words or less

8 TELL YOUR STORY Tell them why this is important to you Why are you doing this? Paint a picture/tell a story

9 2. PROBLEM STATEMENT What is the problem you are trying to solve Tell a story Give an example Hook them early

10 3. SOLUTION How are you solving the problem? Not too technical If you can't explain it to a six year old, you don't understand it yourself. -Albert Einstein

11 4. SHOW IT Bring demo unit Screen shots Picture

12 5. REVENUE MODEL How are you going to make money?

13 6. TRACTION How many customers do you have? How many customers have you talked to?

14 7. MARKET Market Size Addressable Market Size Tops down/bottoms up

15 8. CUSTOMER REACH How are you going to reach your customers? Hunt vs. fish

16 9. THE ASK What are you asking for? $, partnership, support Company milestones

17 10. TEAM Core team Highlight balance/know what s missing

18 11. CONCLUSION Recap Why you are a good investment

19 BACKUP INFO Competitive Landscape IP protection Use of funds Financial projections Advisors Product roadmap

20 AFTERWARDS team recap of meeting and action items Follow-up Send out progress updates

21 PRACTICE, PRACTICE, PRACTICE Pitching is a learned skill Practice at every opportunity Change slides for each pitch

22 A FEW FUN EXAMPLES

23 SORRY YOU CANT READ THIS INPUTS SYSTEM SALES FORECAST COUPONS ASSUMPTIONS USERS Input total sales per year Coupon usage 40.90% Number of Students Using App Prior System 1, per year YEAR SALES Average Students per U (Big 10) 41, % Mobile users redeem coupons % of Students go to Rec. Facility 75.00% % Students would use app 30.00% RAMP UP per year starting in year Average Pop using app per U 9, Penetration 3 5% Reedemption 5% QUANTITY PRICES # ads per week 7 RENEW 100% 52 weeks = 1 year RATE System $ 25, Fee Coupon red. $ 0.30 ADS REVENUE FORECAST FORECAST VISIBILITY PER MONTH An input considering sales per month is more realistic, but also it less conservative SYSTEM SALES jan feb mar apr may jun jul aug sep oct nov dec TOTAL Total Students Visualization App 7, , ,373 2,082,442 4,015,075 7,719,007 16,883, Redeem Coupons 27, ,790 3,501,974 9,817,477 21,419,314 45,966, ,013, Accumulated 27, ,885 4,207,859 14,025,336 35,444,649 81,411, ,425, Revenue per Redemption $ 8, $ 203, $ 1,050, $ 2,945, $ 6,425, $ 13,790, $ 33,304, Accumulated Revenue $ 8, $ 211, $ 1,262, $ 4,207, $ 10,633, $ 24,423, $ 57,727, HEADCOUNT RATIOS OVERHEAD COSTS for ONE professional Input employees per year Value Months SYSTEM SELLER ADV SELLER DEVELOPER MKT GENERAL ADM OWNER/FOUNDER SCHOOLS PROFESSIONAL YEAR Implementation $ 600, Number of schools (system clients) Expenses OVERHEAD 2x MERCHANTS PROFESSIONAL Number of ads (week) SALARY $ 60, $ 60, $ 80, $ 65, $ 30, $ 100,000.00

24 ü Low pressure prototype: suitable in automotive (lube pump, LP injection pump) and fluid transport systems. Reduces the fuel consumption up to 30%. TOO MUCH TEXT ü A working concept for VD-EGM was formulated. The unit design consists of asymmetric gears and a slider, whose position determines the instantaneous flow ü The design was defined on a basis of a numerical procedure developed at Maha Fluid Power Research Center of Purdue, the largest academic fluid power lab in US ü A flow variation range of 65% - 100% was demonstrated on a high pressure prototype, able to operate up to 250 bar outlet pressure ü High volumetric and torque efficiency were measured on a prototype, showing the validity of the concept ü A low pressure prototype (up to 30 bar pressure) is on development. The low pressure prototype is based on a extremely low cost solution ü High pressure prototype: suitable for hydrostatic drive applications in aerospace, construction, agriculture, manufacturing applications, where current units are either expensive or not capable of offering flow on demand features (low efficiency)

25 TOO TECHNICAL 25 Flow Rate: 2000 rpm 20 Flow Rate: 1500 rpm 10 Flow Rate: 1000 rpm Flow Rate [lpm] Exp % [lpm] Exp. - 84% [lpm] Flow Rate [lpm] Exp % [lpm] Exp. - 84% [lpm] Flow Rate [lpm] Exp % [lpm] Exp. - 84% [lpm] 0 Exp. - 68% [lpm] Pressure [bar] 0 Exp. - 68% [lpm] Pressure [bar] 0 Exp. - 68% [lpm] Pressure [bar] Torque [Nm] Exp % [Nm] Exp. - 84% [Nm] Torque: 2000rpm Torque [Nm] Exp % [Nm] Exp. - 84% [Nm] Torque: 1500rpm Torque [Nm] Exp % [Nm] Exp. - 84% [Nm] Torque: 1000rpm Pressure [bar] Pressure [bar] Pressure [bar]

26 TOO FANCY

27 HOMEWORK Go watch a few episodes of Shark Tank Watch the entrepreneurs pitch